Abbott (No. 13 on the 2024 Top 50 Companies list) has released its 2023 Global Sustainability Report, highlighting significant strides and charting the path of future ambitions aligned with its 2030 Sustainability Plan. The overarching goal of the plan is to improve the lives of 3 billion people per year by 2030. Abbott’s previous goal of impacting 2 billion people per year was met in 2020. Key to this accomplishment were advancements in medical technologies and their expanding accessibility.
A crucial part of Abbott’s strategy is continuing that innovation in access and affordability. The company integrates affordability and data insights into its research and development processes, ensuring that new products are accessible to a broader population. This approach not only enhances the quality of healthcare but also makes it more affordable and convenient for patients.
Workforce and Supplier Diversity
Abbott is also focused on building a diverse and innovative workforce. The company continues to utilize target recruiting practices to pursue representation goals. In 2023, women held 42.2% of global management positions and 45.1% of science, technology, engineering and mathematics (STEM) roles at the company. Additionally, the company created over 304,000 development and job opportunities in 2023, with an aim to reach 2 million by 2030.
Creating a resilient, diverse and responsible supply chain is another priority for Abbott. The company engaged over 4,000 suppliers in 2023 and increased its spending with diverse and small businesses by 64% from 2020. This effort not only strengthens the supply chain but also promotes economic growth and sustainability.
Pursuing Positive Impacts Through Technology
Abbott’s commitment to connecting data, technology and care responsibly is evident in its enhanced cybersecurity measures and data ethics initiatives. The company improved its cybersecurity portal for healthcare delivery organizations, ensuring that patient data remains secure and confidential.
Environmental protection remains a cornerstone of Abbott’s sustainability efforts. In 2023, the company achieved 55% Alliance for Water Stewardship (AWS) Certification for high-water-impact manufacturing sites in water-stressed areas. Abbott has also committed to reducing its Scope 1 and 2 carbon emissions by 30% from the 2018 baseline by 2030.
Abbott’s 2023 Global Sustainability Report reflects the company’s unwavering commitment to embedding sustainability into its operations. As Abbott continues to make progress toward its 2030 goals, it remains focused on creating a healthier, more sustainable future for all.
For more information, read the full 2023 Global Sustainability Report.
